News: Vancouver Real Estate Market

Royal LePage predicts continued stability in Canada’s winter recreational real estate market as interest rates expected to hold or moderate

• National single-family home price in Canada’s winter recreational market decreased 0.7% year over year in the first 10 months of 2023

• 24% of Royal LePage recreational property market experts reported a decline in buyer demand this year as a result of climate factors or environmental disasters, following unprecedented wildfire season

• 41% of experts reported an increase...

As we near the end of summer, higher borrowing costs have begun to permeate the Greater Vancouver housing market in predictable ways, with price gains cooling and sales slowing along the typical seasonal pattern. 

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,296 in August 2023, a 21.4 per cent increase from the 1,892 sales recorded in August 2022. This was 13.8 per cent below the 10-year seasonal average (2,663). ...

Continuing the trend that has emerged in the housing market this year, the benchmark price for all home types in Metro Vancouver1 increased in June as home buyer demand butted up against a limited inventory of homes for sale in the region.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales2 in the region totalled 2,988 in June 2023, a 21.1 per cent increase from the 2,467 sales recorded in June 2022. This was 8.6 per cent below the 10-year seasonal average (3,269)....

While the year started slower than usual, Metro Vancouver’s1 housing market is showing signs of heating up as summer arrives, with prices increasing for the sixth consecutive month.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,4112 in May 2023, which is a 15.7 per cent increase from the 2,947 sales recorded in May 2022, and a 1.4 per cent decline from the 10-year seasonal average (3,458).

"Back in January, few people would have predicted...